Banking and Types of Accounts
Authored by Jamie Herberger
Social Studies
11th Grade
Used 43+ times
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38 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The FDIC secures deposits up to
$100,000
$200,000
$250,000
unlimited
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The NCUA secures deposits up to
$100,000
$200,000
$250,000
unlimited
3.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Checking Account
,
(b) Savings Account
,
(c) Money Market Account
highest interest rate
designed specifically to transfer money
most likely to be attached to a debit card
most liquid
highest interest rate of the three
higher minimum deposit
mid level interest rate
mainly to build a buffer or for emergencies
extremely low interest rate
4.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Credit Unions
,
(b) Banks
Funds up to $250,000 protected by NCUA
Non-Profit
A cooperative
Wells Fargo
Greater online footprint
Usually offers lower interest rates on loans
Usually places a larger emphasis on customer service
Created to make a profit
Usually charge higher interest rates on loans
NCSECU
More branches and ATMS
Usually offers a greater variety of services
Funds up to $250,000 protected by FDIC
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a non profit financial cooperative owned by its members that provides credit and other financial services?
The Federal Reserve
Credit Unions
Banks
Treasury
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
What is an advantage of a credit union? Check all that apply!
lower fees for services
higher fees for services
lower rates on loans
higher rates on loans
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which is NOT a function of commercial bank?
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